Anyone flipping/rehabbing in the 500k to 3m dollar range?

[Scott Hollister]

Anyone flipping/rehabbing in the 500k to 3m dollar range?

Who is flipping/rehabbing single family or multi family homes in the 500k to 3 million-dollar range? 

Background: Rehabbing homes in CT for first time home buyers in the 180-215k range.

My questions:

• Who are your end buyers and how do they typically finance? (Jumbo loans and beyond, high net worth individuals?)
• How do you source your materials? (Assuming you can’t take local hardware trips for higher end materials) Are there any national chains that focus in higher end materials?
• Does your labor rate for skilled workers increase dramatically? (For instance, I was shocked when networking at a 3m beach front property in RI, the price to finish hardwood floors is still the same cost as my CT rehabs, $2 sq ft.) I assumed there would be a price hike associated with higher end homes.
• What type of capital are you going after? Private vs HM.

Thanks for the feedback as a I think out loud…